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Black swan events have occurred frequently in the past two years, and the global economy is likely to be heading for a period of extreme depreciation of the legal currency. In this case, if the devaluation of the legal currency is possible, then Bitcoin will actually become a safe-haven asset. This is Bitcoin's path dependence.

A big man said a word before, when you don’t know any business opportunities, you should go and see which companies in the fields that top investment institutions have recently invested in. It is a judgment made by a group of smart people. Just need to refer to their investment direction to develop.

When we don't know what wealth management products to invest in, we follow those excellent investment institutions to invest, so that compared with investing casually by ourselves, the probability of profit will be greatly improved.

The scale of encrypted assets managed by Grayscale has reached 7.3 billion U.S. dollars, an increase of 300 million U.S. dollars in the past day. Bitcoin trust still accounts for the largest proportion of its investment portfolio, and the value of this part of assets increased by 4% to $6 billion; in the third quarter of this year, the size of encrypted assets managed by Grayscale increased by more than $1.05 billion. The growth of 100 million U.S. dollars is also relatively rapid.

In recent years, not only major asset management companies have entered the market, but Bitcoin has also been widely used by people in some countries.

If a person held bonds of 300 million marks at the beginning of 1922, two years later, the face value of these bonds would have long been less than a stick of chewing gum. Professor Warren and Professor Pearson once drew the inflation figures of Germany into a book-sized intuitive histogram, but they were limited by the size of the paper and could not give the data column for 1923. The result had to be explained in a footnote: If the year According to the data drawn, its length will reach 2 million miles.

One million legal currency is likely to drop to the current purchasing power of 10,000 yuan in the lifetime. The emergence of Bitcoin in this era has become the best means of hedging when the traditional market collapses.

In Venezuela, everyone is a millionaire, but they are all poor! The monthly salary of 9 million bolivars is barely enough to buy a kilogram of meat.

In the face of severe inflation, people are racking their brains to find ways to save themselves. At this time, the globally circulated Bitcoin, which does not rely on the issuance of a central institution, has entered the stage of history and has become an option for Venezuelan residents who are in dire straits.

Here, Bitcoin can not only bring a normal standard of living to local residents, but also a means to bypass regulatory restrictions and hold foreign exchange amid extremely high inflation rates.

Why is Bitcoin the best safe-haven fund? On the one hand, funds and people in war-torn countries are frantically blessing, on the other hand, many bigwigs have also invested in Bitcoin.

Li Ka-shing bought 100 million bitcoins in 2014, and Sun Zhengyi invested hundreds of millions of dollars in bitcoins. Wall Street financial analysts say Buffett will soon turn to Bitcoin.

Billionaire hedge fund investor Paul Tudor Jones (Paul Tudor Jones) previously stated in a research note sent to clients that he entered the Bitcoin field decisively. Harry Potter author JK Rowling also asked about Bitcoin in a tweet. Tesla founder Elon Musk reiterated his Bitcoin holdings to JK Rowling.

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Bitcoin may challenge the status of gold

The market value of Amazon is 1.62 trillion US dollars, and the market value of Bitcoin is only 239.6 billion US dollars. Bitcoin represents the entire digital currency industry, at least it should not be lower than the market value of a certain company in the world.

Bitcoin's competitor is not other currencies, but gold.

Bitcoin, known as digital gold by the public, I believe it will surpass gold and become the most popular asset in the world in the future.

The S2F model is a value metric used to measure scarcity by dividing the current supply of an asset by the annual production rate of new supply. For example, silver has an S2F ratio of 22. It was investor PlanB who originally proposed to apply the model to Bitcoin to assess the long-term value of Bitcoin. Bitcoin currently has an S2F ratio of 27, surpassing that of silver. Meanwhile, gold has an S2F ratio of 62.

In the 16th century, prices in Spain more than quadrupled, and the excess of precious metals was the root cause of this inflation. Between 1501 and 1600, 17 million kilograms of pure silver and 181,000 kilograms of pure gold poured into Spain from the fabulous mines of Mexico and Peru. Excluding official channels, the amount smuggled was estimated to be equivalent to 10% of official imports, a huge amount of gold and silver from the New World relative to existing stocks. Regardless, the influx of precious metals has set off a price revolution.

If the scarcity of gold is challenged, it will cause people to lose confidence in it. With the continuous development of technology, this situation is very likely to happen.

The Winklevoss twins recently said in an interview with a show that buying bitcoin is actually a better investment than buying gold, because Musk has a plan to mine gold on asteroids in space, when An increase in supply will cause the price of gold to fall.

According to the British "Sun" report, NASA has teamed up with billionaire Elon Musk to prepare to start detecting a "gold-rich" asteroid near the Earth.

The asteroid is called 16 Psyche, and its main components are iron, nickel and some rare metals, such as gold, platinum and copper. Also known as "Gold Star".

It is estimated that the total value of various metals in 16Psyche can reach 10 trillion US dollars (about 70 trillion yuan). This means that if we brought it back to Earth, it would completely disrupt commodity prices and cause the gold price system to collapse. If all goes well, NASA and SpaceX will launch a rocket carrying a spacecraft from Cape Canaveral in the summer of 2022.

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The current market value of Meituan is 1.54 trillion Hong Kong dollars. There should be no objection to saying that Wang Xing is one of the people who know the Internet best. He founded Xiaonei, Fanfou and other sensational social platforms, and proposed three eras of the Internet.

Although he has not officially entered the field of cryptocurrency, the relationship between Meituan founder Wang Xing and Bitcoin, cryptocurrency, and blockchain can be traced back to several years ago.

Internet observer Yin Sheng once told the media that he remembered that Wang Xing asked him about Bitcoin when it was just emerging a few years ago. At that time, Wang Xing thought, "Bitcoin is a very good opportunity to subvert the existing structure." In addition, Wang Xing owned Bitcoin in 2013, which was earlier than most people.

The technology on which the birth of Bitcoin is based is blockchain, which is not only a major innovation in technology, but also a major innovation in human organizational structure.

I think Bitcoin should take gold as a goal beyond. This is actually not just Bitcoin’s challenge to gold, but a challenge from one era to another.

The world-renowned online payment system PayPal recently announced that it will allow users to buy, hold and sell a variety of cryptocurrencies including Bitcoin on the platform.

The change of PayPal represents a trend of future development. Its entry is not accidental, but a natural result of the increasing influence of Bitcoin and the gradual display of value.

When PayPal and Alipay first made online payments, the banks didn't care, or even dismissed everything. But this era is different. After learning several lessons, traditional industries dare not pay attention to the major decisions of these Internet giants.

Many banks and foundations feel the pressure brought by PayPal, and will take a serious look at the opportunities brought by digital currency, and more and more institutions will enter the market.

PayPal has obtained the first cryptocurrency license with additional conditions issued by the New York State Financial Regulatory Authority, and has cooperated with Paxos Trust Company to provide cryptocurrency buying and selling conversion services. The first phase of the license supports Bitcoin, Ethereum, and Bitcoin Cash , Litecoin.

In the past few days, the Shenzhen Municipal Government and the Central Bank have jointly launched a digital renminbi red envelope activity. Presumably some small partners have drawn 200 yuan in digital renminbi. At present, many central banks around the world have stated that they plan to develop their digital currencies in the next few years.

With the popularization of the central bank's legal digital currency assets, the decentralized digital currency will be further recognized by the public, and eventually the number of people entering the market will continue to increase, and the entire market will become larger and larger, followed by currency prices. There is a gradual increase.

Bitcoin was only a small and unknown community at the beginning. People just thought the idea of ​​digital currency was cool, and now it is gradually accepted and recognized by the mainstream public. In the near future, the author believes that the price of Bitcoin will increase to 1 million RMB. In the days to come, more people will learn about blockchain, digital currency, and Bitcoin.